NEW DELHI: Indian utility vehicle manufacturer Mahindra & Mahindra has transferred its agri businesses to Mahindra Shubhlabh Services, a 100 percent subsidiary of M&M, the company informed in a BSE regulatory filing.

Mahindra Agri Business aims to use various new and existing farming technologies to increase productivity of the farmer and thus increase his prosperity.

Commenting on the occasion, Anand Mahindra, Chairman, Mahindra Group said, “Our Agri Business is aligned to our long term vision of delivering FarmTech Prosperity. With close to 50 per cent of the population of the country dependent on agriculture, it offers us an opportunity to truly live the Mahindra Rise philosophy, by driving positive change.”

Dr Pawan Goenka, Executive Director, Mahindra and Mahindra said, “Our Agri Business has reached a critical mass now and this new entity would provide an opportunity to fully leverage the potential that these businesses offer and thus, function as an end-to-end provider in the agri value chain. It offers an opportunity for immense value creation in agriculture, enabling us to realise our vision of FarmTech Prosperity. This consolidation will also enable the organisation to focus on agri-business and will allow us to serve the farmers with greater passion.”